Substantial legal costs were incurred by the Shannon Foynes Port Company last year, following a successful court action by its chief executive Pat Keating.
As The Irish Times reports, a sum of €357,008 in legal costs is recorded in its 2023 annual report.
The High Court had ruled almost two years ago that the company would have to pay Mr Keating €373,339 unpaid bonuses from 2010 to 2017.
Mr Justice Mark Sanfey had ruled that a failure by the port company directors to use their discretion to pay the bonus “constitutes a breach by the company of the contract which has caused damage and loss to Mr Keating”.
Pretax profits at Shannon Foynes Port Company increased last year by 14 per cent to €4.8 million, the annual report states.
Read The Irish Times here
